Looking for a place to invest? - PSD Blog - The World Bank Group Sri Lanka conjures up different images in the minds of different people: lush green tropical canopies, steaming cups of aromatic tea, and hardworking fishermen in their dinghy boats. For me, the country also packs enormous promise for growth and development. There is not the slightest doubt that Sri Lanka will have to come clean and deal with the aftermath of its prolonged civil war. However, at a fundamental level, there is a sense of hunger in its people to rebuild their lives and their country. Sri Lanka already holds a strong position in certain agricultural and industrial exports, like tea or uncut diamonds. I recently spoke at an event organized by the country’s top business newspaper, the Daily Financial Times, in partnership with the well-regarded Colombo University MBA Alumni Association. The euphoria leading up to the event was palpable.
Kuznets curve Hypothetical Kuznets curve. Empirically observed curves aren't smooth or symmetrical—see reference[1] for examples of "real" curves. In economics, a Kuznets curve graphs the hypothesis that as an economy develops, market forces first increase and then decrease economic inequality. One explanation of such a progression suggests that early in development investment opportunities for those who have money multiply, while an influx of cheap rural labor to the cities holds down wages. The Kuznets curve implies that as a nation undergoes industrialization – and especially the mechanization of agriculture – the center of the nation’s economy will shift to the cities. Kuznets curve diagrams show an inverted U curve, although variables along the axes are often mixed and matched, with inequality or the Gini coefficient on the Y axis and economic development, time or per-capita incomes on the X axis. Kuznets ratio[edit] Kuznets had two similar explanations for this historical phenomenon:
Time Machine ISS TRANSIT OF VENUS: High above Earth, astronaut Don Pettit is about to become the first human to witness and photograph a transit of Venus from space. His images and commentary will be streamed to Earth during the crossing. [full story] [video] VENUS PASSES MERCURY, APPROACHES THE SUN: Venus is approaching the sun in advance of the June 5th Transit of Venus. From here on Earth, the second planet has become difficult to see wrapped in bright sunlight. The Solar and Heliospheric Observatory, however, has no such trouble. A 24-hour movie shows that Mercury is exiting stage left as Venus plunges deeper into sunlight. Amateur astronomers who manage to locate Venus in broad daylight will find that the planet has turned into a delightfully slender crescent. The crescent could soon become a ring. Keep an eye on SpaceWeather's realtime photo gallery to see how Venus shape-shifts in the days ahead: On June 2, 2012 there were 1293 potentially hazardous asteroids.
International Finance Corporation (IFC) Home Welfare economics Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.[1] A typical methodology begins with the derivation (or assumption) of a social welfare function, which can then be used to rank economically feasible allocations of resources in terms of the social welfare they entail. Such functions typically include measures of economic efficiency and equity, though more recent attempts to quantify social welfare have included a broader range of measures including economic freedom (as in the capability approach). The field of welfare economics is associated with two fundamental theorems. Attempting to apply the principles of welfare economics gives rise to the field of public economics, the study of how government might intervene to improve social welfare. Measuring social welfare[edit] Cardinal utility[edit] The early Neoclassical approach was developed by Edgeworth, Sidgwick, Marshall, and Pigou.
Before I Die What matters most to you Interactive public art project that invites people to share their personal aspirations in public. After losing someone she loved and falling into depression, Chang created this experiment on an abandoned house in her neighborhood to create an anonymous place to help restore perspective and share intimately with her neighbors. The project gained global attention and thanks to passionate people around the world, over 1000 Before I Die walls have now been created in over 70 countries, including Kazakhstan, Iraq, Haiti, China, Ukraine, Portugal, Japan, Denmark, Argentina, and South Africa. 2011, New Orleans, LA. Cordoba, Argentina. Najaf, Iraq. Brooklyn, NY. Almaty, Kazakhstan Savannah, GA. Pohang City, South-Korea. San Francisco, CA. Johannesburg, South Africa. Cordoba, Argentina.
Home :: Grameen-Jameel Industrialisation Period of social and economic change from agrarian to industrial society. Industrialisation (UK) or industrialization (US) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing.[2] Industrialization is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialization increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies. The reorganization of the economy has many unintended consequences both economically and socially. Background[edit] The first transformation from an agricultural to an industrial economy is known as the Industrial Revolution and took place from the mid-18th to early 19th century. Social consequences[edit] Urbanisation[edit]
Grameen Foundation It is separate from organizations called "Grameen Foundation" in different countries, such as Grameen Foundation Australia.[citation needed] History[edit] The Foundation was founded in 1997 to facilitate the expansion of banks modeled after the Grameen Bank beyond the borders of Bangladesh and increase the access of poor people to microfinance by millions worldwide. Muhammad Yunus, the founder and managing director of Grameen Bank, sits on the Board of Directors. Current chair of the board is Paul Maritz, CEO of VMWare and formerly a senior executive at Microsoft. Programs[edit] Rather than directly administering microfinance programs, Grameen Foundation provides funds and technical assistance to local and regional microfinance institutions (MFIs) and other poverty-focused organizations. Working with local and global allies, Grameen Foundation also develops and distributes mobile phone-based applications to help the poor to better manage: Trivia[edit] References[edit] Further reading[edit]
International Monetary Fund The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., of "188 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."[1] Formed in 1944 at the Bretton Woods Conference, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. Functions[edit] According to the IMF itself, it works to foster global growth and economic stability by providing policy, advice and financing to members, by working with developing nations to help them achieve macroeconomic stability and reduce poverty.[8] The rationale for this is that private international capital markets function imperfectly and many countries have limited access to financial markets. The IMF's role was fundamentally altered by the floating exchange rates post-1971.
Grameen family of organizations Grameen Bank Complex at Mirpur-2, Dhaka The Grameen family of organizations has grown beyond Grameen Bank into a multi-faceted group of profitable and non-profit ventures, established by Dr. Muhammad Yunus, the Nobel Peace Prize winning founder of Grameen Bank. Most of these organizations have central offices at the Grameen Bank Complex in Mirpur, Dhaka, Bangladesh. The Grameen Bank started to diversify in the late 1980s when it started attending to unutilized or underutilized fishing ponds, as well as irrigation pumps like deep tubewells.[1] In 1989, these diversified interests started growing into separate organizations, as the fisheries project became Grameen Fisheries Foundation and the irrigation project became Grameen Krishi Foundation.[1] Grameen Bank[edit] Grameen Trust[edit] Grameen Trust (GT), a non-profit and non-government organisation established in 1989 uses microcredit as a tool for fighting poverty and follows the Grameen Bank approach for the purpose. Grameen Fund[edit]
Tragedy of the commons Self-interests causing depletion of a shared resource The tragedy of the commons is a metaphoric label for a concept that is widely discussed, and criticised, in economics, ecology and other sciences. According to the concept, should a number of people enjoy unfettered access to a finite, valuable resource such as a pasture, they will tend to over-use it, and may end up destroying its value altogether. Even if some users exercised voluntary restraint, the other users would merely supplant them, the predictable result being a tragedy for all. The metaphor is the title of a 1968 essay by ecologist Garrett Hardin. As another example, he cited a watercourse which all are free to pollute. The principal concern of Hardin's essay was overpopulation of the planet. Some scholars have argued that over-exploitation of the common resource is by no means inevitable, since the individuals concerned may be able to achieve mutual restraint by consensus. Expositions[edit] Classical[edit] Application[edit]
Tanzania: First Women's Bank begins operations The Tanzania Women’s Bank (TWB) was inaugurated on July 28 in Dar es Salaam, Tanzania. This pioneering initiative, the first of its kind in Africa, essentially aims at promoting economic activities undertaken by women. This comes as a relief for African women who, despite their enormous contribution towards economic development, paradoxically, do not always have easy access to banking services for economic reasons. Women in Dar es Salaam, Tanzania, now have their own bank. Although men are allowed to open an account, the establishment focuses, essentially, on female clientele who are more often than not excluded from the mainstream banking system. To enable women to access these services, the establishment has simplified otherwise onerous administrative procedures. A long-term project Women groups called for the establishment of this type of bank. Th brains behind this banking institution plan to move beyond the Tanzanian boundaries.
Free rider problem In economics, the free rider problem occurs when those who benefit from resources, goods, or services do not pay for them, which results in an under-provision of those goods or services.[1] The free rider problem is the question of how to limit free riding and its negative effects in these situations. The free rider problem may occur when property rights are not clearly defined and imposed.[2] An opposite concept is that of a forced rider. Although the term "free rider" was first used in economic theory of public goods, similar concepts have been applied to other contexts, including collective bargaining, antitrust law, psychology and political science.[citation needed] For example, some individuals in a team or community may reduce their contributions or performance if they believe that one or more other members of the group may free ride.[3] In a labor union, free riding occurs if an employee pays no union dues or agency shop fees, but benefits from union representation. Notes[edit]